YOUR

DAILYLUXE

 
CONNECT WITH US

Rolls-Royce May Face Bribery Charges -- -Stock Takes Hit

Posted: Dec. 6th, 2012  |  By DailyLuxe News

Photo: Thinkstock

It is not exactly the type of news that makes stakeholders cheer in unison. 

Aircraft engine makers Rolls Royce faces possible charges of fraud and bribery.  It has been reported that the firm is under investigation by Britain’s Serious Fraud Office, as reported today by Reuters.

Airbus and Boeing are clients of this Rolls-Royce. It is a separate firm owned by automotive conglomerate BMW AG that makes the luxury automobiles.  

Shares in Rolls-Royce, which have risen a quarter this year, fell as much as 5.6 percent in early trade. The stock was down 3.1 percent at 885.75 pence by 7:10 a.m. EDT, valuing the group at around 16.6 billion pounds ($26.7 billion).

Read More on reuters.com
Comments: